Thursday, April 12th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.693, nearly two cents above Wednesday’s closing price of $2.675. Climbing initially to the intraday high of $2.698 as markets opened, prices quickly dwindled downward to mark the intraday low of $2.663 by 10:00AM. Swelling up towards the $2.70 mark as the bullish publication was released, the contract soon retreated to trade near $2.680. Plodding a modestly upward path for the balance of the day, May closed higher on Thursday at $2.686.
The EIA Natural Gas Storage Report published on Thursday showed a 19 BCF withdrawal from storage for the week ended April 6th – above the market estimate of 15 BCF. Total working gas in storage was reported as 1,335 BCF; 35.2% below this time last year and 21.9% below the five-year average.
This morning in Globex, WTI Crude was up 14 cents; Natural Gas was up three cents; Heating Oil was down slightly; and, Gasoline was down slightly.
Natural Gas Glossary
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